Resources utilised to address past losses suffered by Tabung Haji resulted in a loss of capital spending that could otherwise have supported new investments, an analyst says.PETALING JAYA: The investment losses suffered by Tabung Haji (TH) do not fully capture the economic damage inflicted on local businesses, including fewer projects, weaker supply chains and missed growth opportunities, says an economist.
Harridon Suffian.Harridon Suffian of Universiti Kuala Lumpur Business School said TH's financial difficulties were bound to have affected the revenues and profit margins of firms within its business ecosystem.
He said the pilgrim fund’s reduced spending and investment would have translated into fewer projects and orders for its partners, suppliers, subcontractors and small and medium enterprises (SMEs), many of which were Malay-owned.
